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Federal Reserve Analyst: Fed Banks Are Private
Posted By Washingtons Blog On November 22, 2011 @ 6:00 am In Federal Reserve,Think Tank | Comments Disabled
I’ve documented numerous times that the 12 Federal Reserve Banks are private.
For example, I noted  last month:
Given that the 12 Federal Reserve banks are private – see this , this , this  and this - the giant banks have a huge amount of influence on what the Fed does. Indeed, the money-center banks in New York control the New York Fed, the most powerful Fed bank. Indeed, Jamie Dimon – the head of JP Morgan Chase – is a Director of the New York Fed .
San Francisco Fed research analyst David Lang has just confirmed this once again:
[Question]: “I had a really quick question, the Federal Reserve Bank of San Francisco specifically, is that formed as a private corporation itself?”
David Lang: “Ah yes it is actually. yes our state chartered banks, banks under a charter share that and we pay a dividend on those shares.”
Hat tip Intel Hub .
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2011/11/federal-reserve-analyst-fed-banks-are-private/
URLs in this post:
 noted: http://www.washingtonsblog.com/2011/10/occupy-wall-street-and-occupy-the-fed-are-two-sides-of-the-same-coin.html
 this: http://www.washingtonsblog.com/2011/07/the-federal-reserve-admits-that-its-12-banks-are-private-not-government-entities.html
 this: http://www.washingtonsblog.com/2011/07/federal-reserve-attorneys-fed-banks-are-not-agencies-but-independent-corporations-with-private-boards-of-directors.html
 this: http://www.youtube.com/watch?v=kwIZ4syCFLc
 this: http://www.youtube.com/watch?v=4UqcY8lGUUE&feature=player_embedded
 Jamie Dimon – the head of JP Morgan Chase – is a Director of the New York Fed: http://www.newyorkfed.org/aboutthefed/org_nydirectors.html
 Intel Hub: http://theintelhub.com/2011/11/19/san-francisco-federal-reserve-employee-admits-fed-is-a-private-corporation-that-pays-dividends-to-shareholders/
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